Schools funding: Malcolm Turnbull dubs new $19b education policy

Prime Minister Malcolm Turnbull has declared he will "bring the school funding wars to an end" in a stunning policy turnaround that will see the federal government pump an extra $19 billion into schools over the next decade.

At a surprise press conference flanked by businessman David Gonski, who conducted a landmark review of school funding for the Gillard government, Mr Turnbull said he would succeed where Labor failed by delivering a genuine needs-based funding model.